Himalaya Shipping (NYSE:HSHP) Hits New 1-Year High – Here’s Why

Himalaya Shipping Ltd. (NYSE:HSHP) hit a new 52-week high during trading on Tuesday . The stock traded as high as $14.30 and last traded at $14.2560, with a volume of 420847 shares trading hands. The stock had previously closed at $13.84.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Himalaya Shipping in a research note on Thursday, January 22nd. Wall Street Zen cut Himalaya Shipping from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Himalaya Shipping Price Performance

The firm has a market capitalization of $568.39 million, a P/E ratio of 37.52 and a beta of 1.85. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 4.12. The business’s 50 day moving average is $10.15 and its 200-day moving average is $8.90.

Himalaya Shipping (NYSE:HSHP) last issued its earnings results on Tuesday, February 10th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%. The company had revenue of $43.70 million during the quarter, compared to analyst estimates of $41.80 million.

Himalaya Shipping Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, February 19th. Himalaya Shipping’s dividend payout ratio (DPR) is presently 13.16%.

Institutional Investors Weigh In On Himalaya Shipping

Several large investors have recently added to or reduced their stakes in HSHP. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Himalaya Shipping in the 3rd quarter valued at $33,000. BNP Paribas Financial Markets boosted its stake in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after acquiring an additional 2,519 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Himalaya Shipping by 326.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after purchasing an additional 6,909 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in Himalaya Shipping in the third quarter worth $86,000. Finally, Ballentine Partners LLC bought a new stake in Himalaya Shipping in the fourth quarter valued at $101,000. Institutional investors and hedge funds own 22.33% of the company’s stock.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.